Lululemon Athletica (NASDAQ: LULU) reported a 33% jump in earnings for the third quarter of 2019 helped by higher revenue as well as double-digital growth in the comparable sales. The results exceeded analysts’ expectations. Further, the company lifted its revenue and earnings guidance for the full year 2019.
Net income climbed by 33% to $126 million or $0.96 per share. Net revenue grew by 23% to $916.1 million. The analysts had expected EPS of $0.93 on revenue of $899.66 million. Total comparable sales increased by 16%.
The e-commerce revenue totaled $246.7 million, or 26.9% of total revenue, compared to $189.4 million or 25.3% of total revenue, in the previous year quarter.
Looking ahead into the fourth quarter, the company expects revenue in the range of $1.315-1.330 billion and earnings of $2.10-2.13 per share. The market analysts expect EPS of $2.13 on revenue of $1.32 billion for the fourth quarter. The comparable sales growth is anticipated to be in the low double-digits on a constant dollar basis.
For the full year 2019, the company lifted revenue outlook to the range of $3.895-3.910 billion from the prior range of $3.80-3.84 billion. The earnings guidance is raised to the range of $4.75-4.78 per share from $4.63-4.70 per share. The Street analysts predict EPS of $4.75 on revenue of $3.89 billion. The comparable sales growth is now anticipated to be in the mid-teens on a constant dollar basis.
Read: Chewy Q3 earnings review
The comparable store sales increased by 10% for the third quarter and direct-to-consumer net revenue jumped by 29%. Direct-to-consumer net revenue represented 26.9% of total net revenue compared to 25.3% for the third quarter of fiscal 2018. The company ended the quarter with 479 stores.
Lululemon opened 19 net new company-operated stores in Q3 2019 including nine in the US, seven in Asia, and four in Europe. The company had one company-operated store closure in Canada. At the end of Q3 2019, the company had 479 total company-operated stores compared to 426 at the end of Q3 2018.
We’re on Flipboard! Follow us to receive the latest stock market, earnings, and financial news at your fingertips
TC BioPharm develops safer, less expensive products to target more cancers: CEO Bryan Kobel
TC BioPharm (NASDAQ: TCBP) is a clinical-stage cell therapy company focused on the development of treatments for infectious diseases, including advanced allogeneic chimeric antigen receptor (CAR) T-cell therapy products for
Cintas Corp. (CTAS) Q3 2023 earnings and revenue increase
Uniform rental company Cintas Corporation (NASDAQ: CTAS) on Wednesday announced financial results for the third quarter of 2023, reporting higher earnings and revenues. At $2.19 billion, third-quarter revenues were up
Infographic: Micron (MU) reports net loss for Q2; revenue down 53%
Micron Technology Inc. (NASDAQ: MU) slipped to a loss in the second quarter of 2023 from a profit last year, hurt by a sharp fall in revenues. The chipmaker reported